Samuel Nana Yaw Simpson

Boards and governance of state-owned enterprises

Purpose – This study aims to examine the structure, attributes, and performance of boards of directors of state-owned enterprises (SOEs) within the broader context of public sector governance. This is informed by the less attention given to the concept among public sector organizations despite efforts to make state enterprises more effective and efficient, especially in developing and middle income countries. Design/methodology/approach – Data was collected through questionnaires self-administered in 2010 to all 25 SOEs in Accra, Ghana, out of the 29 nationwide. Some key officials were interviewed and documentary evidence analyzed to achieve triangulation of data and results. Findings – Results show that state-owned enterprises have boards and comply with the minimal governance issues outlined the legal frameworks establishing them. However, they exhibit significant weaknesses in the areas of board performance evaluation, criteria for board appointment, the balance of executive directors and non-executive...

THE AUDIT EXPECTATION GAP CONCEPT: EXAMINING VIEWS ON AUDITORS' REPORTS FROM GHANA

Purpose – The audit expectation gap has been the subject of research in many countries and in different forms. However, such research of the nature and dimensions of the gap has been limited, if done at all, in the developing countries of West Africa. This study assesses its existence and investigates the factors that have been influencing it. Design/methodology/approach – Survey responses from questionnaires administered to preparers and users of audited financial statements were analysed. Findings – Financial statements users have significantly different perceptions about assurances provided by auditors’ reports, whereas the views of company accountants are quite close to those of auditors. Originality/value – Although the validity of the results of this for international comparison may be limited by the number of financial statements users covered and the socio-cultural characteristics of the Ghanaian business environment, it should be recognised as one of the few to investigate the existence and nature of the expectation gap in the context of a developing country in the West African subregion. It thus adds the literature and points to the need for the adoption of multidisciplinary measures by the accounting profession and financial statements users with the view to eliminating or at the least minimising its persistence and escalation among the various relevant players.

Exploring the Disclosure of Intellectual Capital in Ghana: Evidence from Listed Companies

Intellectual Capital (IC) has become a prominent feature of business transactions and discourse. The rising interests in IC and Intellectual Capital Disclosure (ICD) issues in both developed and developing countries have necessitated insightful studies. This study explores ICD in Ghana and seeks to contribute to fill the dearth in the literature on ICD from the perspective of developing countries. The study examines the ICD of 25 companies listed on the Ghana Stock Exchange (GSE) over a five-year period (2006-2010) through content analysis of their corporate annual reports. The study revealed that the ICD level in annual reports in Ghana is quite high and descriptively reported and though disclosure of IC is improving but at a relatively marginal rate. Therefore looking at the trend of ICDs by the companies, the study recommends the need for accounting regulatory bodies and oversight agencies (local and global) to develop specific standards or guidelines on identifying, measuring and reporting IC. This paper is one of the few studies to have investigated the disclosure of IC in corporate annual reports in Ghana.

Developments in Public Sector Accounting Practices: The Ghanaian Experience

Purpose – This chapter examines developments in public sector accounting practices using evidence from a developing country (Ghana), and explores the motivations for such developments from post-independence to date. This stems from the limited research in public sector accounting particularly on developing countries despite the rich empirical context that they provide for the global research community. Design/methodology/approach – Advocating for institutional theory, data was gathered from multiple sources including interviews, discussions and documents to achieve the above objectives. Findings – Evidence gathered shows gradual shift from cash accounting to accrual accounting practices (modified), including computerization of the entire public sector accounting and reporting processes. Indeed, the World Bank and IMF sponsored reform (PUFMARP) instigated many of the major developments in the public sector accounting practices, including the adoption of accrual accounting and deployment of integrated financial management information system. Research limitations/implications – Findings on developments during the post-colonial period were only based on the analysis of few documentary sources. Originality/value – The study contributes to the limited studies in public sector accounting from developing countries and Africa in particular. It also extends the application of institutional theory in public sector accounting research. Implications – Findings inform practitioners and policy-makers on the context-specific factors worth considering in the adoption of public sector accounting practices.